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TMI Blog2013 (11) TMI 1440X X X X Extracts X X X X X X X X Extracts X X X X ..... ion 260 (A) of the Income Tax Act, 1961 (hereinafter referred to as the 'Act') against the order dated 21.10.2009 passed by the Income Tax Appellate Tribunal, Lucknow (hereinafter referred to as the 'Tribunal'). The Commissioner of Income Tax, Kanpur has proposed the following substantial question of law said to be arising out of the order of the Tribunal: - "1. Whether on the facts and circumsta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Officer to treat the profit on sale of shares as capital gain instead of income from business as assessed by the Assessing Officer in order u/s 143(3)/147 of the Income Tax Act, 1961 ignoring the fact that the CIT(A) has followed the order of the ITAT in the case of Shri Atul Kanodia vide ITA No. 1284/Luc./06 dated 17.08.2007 ignoring the fact that the revenue is under appeal u/s 260A against thi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nue feeling aggrieved, preferred an appeal before the Tribunal. The Tribunal has partly allowed the appeal. We have heard Sri Shambhu Chopra, learned Senior Standing Counsel for the Revenue and Sri Shakeel Ahmad for the respondent assessee. Sri Shakeel Ahmad, learned counsel, invited the attention of this court to the decision of this court in Income Tax Appeal No. 631 of 2007 (Commissioner of I ..... X X X X Extracts X X X X X X X X Extracts X X X X
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